The local market held morning gains at noon after fresh record highs on Wall Street on strong economic data from China, Europe and the United States.
At 1205 AEST, the S&P/ASX200 index was up 0.79 per cent to 5,086.9 points, while the broader All Ordinaries index added 0.82 per cent to 5,102.8 points.
US manufacturing data and better-than-expected unemployment claims sent the S&P across the 1700 line to close at an all-time high of 1706 overnight Thursday.
CMC Markets analyst Ric Spooner said the US economy had moved centre stage as a key driver for Australian and international markets last night with a strong manufacturing index and a healthy drop in jobless claims.
